In the earlier times Algerian Franc were used as the currency of the country. In the year 1964, Algeria got its new official currency Algerian Dinar.
Coins
When the Algerian Currency came in to existence, in those very first years a series of coins were minted. On one side of those Algerian Coins, the national emblem of Algeria was impressed and on the flip side the value of the coin was featured in Arab numerical. Later on coins with various commemorative subjects came up. But these went off the market by 1980s. A new series of coins were introduced in 1992. This series consisted of coins of the denominations of ¼,1/2, 1,2,5,10,20,50,100 Dinar. Generally the fractions and 1 and 2 dinar coins are not used. Coins of 5,10, 20, 50 and 100 denominations are largely circulated.Banknotes
In 1964 for the first time banknotes were introduced in the Algerian economy. The available denominations were 5,10,50 and 100 dinar. In the following years 500 and 1000 dinar notes were also added. The Algerian Banknotes are marked with different colors. 10DA is green, 20DA is red, 50DA is green again, and 100DA is blue, followed by 500DA that is either violet or pink, lastly 1000 DA that is of red color. At present, banknotes of 200,500,1000 denominations are in circulation.Exchange Rate
One US Dollar is equivalent to 73.2 Dinar according to the analysis revealed in 2006. The positive side about Algerian currency system is that the rules regarding the import and export of currency is not at all rigid.One thing can mentioned here, that apart from Algerian Dinar, the British Pound is also used in Algeria as a mode of transaction.
